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TPM: Adler Hobnobbed With Wall Street Execs Before Weakening Reform Bill

January 6, 2010

John Adler

About a week ago, I pointed out that points out that “John Adler had the fifth highest amount of contributions from the finance industry among members who “offered amendments to weaken consumer protections included in the [Wall Street Reform and Consumer Protection Protection Act].” 

Today, Talking Points Memo (One of Time Magazine’s 25 Best Blogs 2009) reinforced that fact when they posted: 

In mid October, members of the New Democrat Coalition (NDC), a caucus of pro-business Democrats, traveled to New York City. According to an emailed itinerary for the trip drawn up by an event planner working for the group and obtained by TPMmuckraker, members met on October 12 with executives from Goldman, and the following day with execs from JP Morgan. Sandwiched between those events was a fundraiser for the New Dems, and a meeting with CEOs from Marsh and McLellan Companies, a consulting and insurance firm. 

(ConservaDems Met With Wall St. Execs While Pushing to Weaken Financial Reform

According to said itinerary (posted below), Adler was among the members at the JP Morgan event. 

What you won’t find is details or even confirmation of the events. According to the TPM post, an NDC spokesperson punted the inquiry and the individual attending members have been mum.  So much for accountability and transparency. 

What is apparent is the following: 

The NDC, founded in 1997, wields serious clout on financial issues. Of its 68 members, 15 sit on the House Financial Services committee, which is in charge of the financial regulatory overhaul currently making its way through Congress. 

As you can guess, Adler is one of those 15. 


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